Sinotruk (Hong Kong) Limited Stock Forecast
Sinotruk (Hong Kong) Limited stock downgraded to Sell Candidate
(Updated on May 17, 2024)
The Sinotruk (Hong Kong) Limited stock price fell by -3.37% on the last day (Friday, 17th May 2024) from HK$20.75 to HK$20.05. During the last trading day the stock fluctuated 4.50% from a day low at HK$20.00 to a day high of HK$20.90. The price has risen in 6 of the last 10 days and is up by 2.3% over the past 2 weeks. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 10 million shares were bought and sold for approximately HK$200.82 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$19.41 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.78% during the next 3 months and, with a 90% probability hold a price between HK$20.34 and HK$23.95 at the end of this 3-month period.
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3808.HK Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sinotruk (Hong Kong) Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$20.61 and HK$20.66. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -4.98%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Sinotruk (Hong Kong) Limited stock
Sinotruk (Hong Kong) Limited finds support from accumulated volume at HK$20.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.90 between high and low, or 4.50%. For the last week, the stock has had daily average volatility of 4.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3808.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Sinotruk (Hong Kong) Limited to open at HK$20.32, and during the day (based on 14 day Average True Range), to move between HK$19.06 and HK$21.04, which gives a possible trading interval of +/-HK$0.99 (+/-4.93%) up or down from last closing price. If Sinotruk (Hong Kong) Limited takes out the full calculated possible swing range there will be an estimated 9.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$20.00 (0.25%) than the resistance at HK$20.55 (2.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sinotruk (Hong Kong) Limited stock A Buy?
The Sinotruk (Hong Kong) Limited stock holds several negative signals and despite the positive trend, we believe Sinotruk (Hong Kong) Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.431 Sell Candidate Downgraded
Predicted Opening Price for Sinotruk (Hong Kong) Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$20.32 ( 1.33%) | HK$20.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3808.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.22 | 5.82 % | |
| R2 | 20.87 | 4.10 % | ||
| R1 | 20.66 | 3.04 % | ||
| Current price: | 20.05 | |||
| Support | S1 | 19.97 | -0.385 % | |
| S2 | 19.76 | -1.44 % | ||
| S3 | 19.42 | -3.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.75 | 3.49 % | |
| R2 | 20.70 | 3.24 % | ||
| R1 | 20.55 | 2.49 % | ||
| Current price | 20.05 | |||
| Support | S1 | 20.00 | -0.249% | |
| S2 | 19.56 | -2.44% | ||
| S3 | 19.54 | -2.54% |
3808 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 02, 2024 | Jul 02, 2024 | Sep 01, 2024 | HK$1.06 | 5.29% |
| 2 | Jul 04, 2023 | Jul 04, 2023 | Jul 04, 2023 | HK$0.330 | 2.10% |
| 3 | Jul 05, 2022 | Jul 05, 2022 | Jul 05, 2022 | HK$0.680 | 6.64% |
| 4 | Jul 05, 2021 | Jul 05, 2021 | Jul 05, 2021 | HK$1.04 | 7.03% |
| 5 | Mar 31, 2020 | Jul 03, 2020 | Sep 11, 2020 | HK$0.390 | 1.94% |
FAQ
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